Olistico Wealth LLC Boosts Stock Holdings in Snowflake Inc. $SNOW

Olistico Wealth LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 640.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 659 shares of the company’s stock after acquiring an additional 570 shares during the quarter. Olistico Wealth LLC’s holdings in Snowflake were worth $147,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC bought a new stake in Snowflake in the 2nd quarter worth about $3,900,134,000. Nuveen LLC bought a new position in shares of Snowflake in the first quarter valued at approximately $555,847,000. AQR Capital Management LLC increased its position in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock valued at $456,430,000 after acquiring an additional 2,460,769 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after acquiring an additional 763,673 shares during the period. Finally, Amundi boosted its position in Snowflake by 72.7% in the first quarter. Amundi now owns 1,808,250 shares of the company’s stock worth $252,974,000 after purchasing an additional 760,923 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities raised their target price on Snowflake from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Piper Sandler raised their price objective on shares of Snowflake from $215.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, August 28th. Raymond James Financial increased their target price on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Wells Fargo & Company assumed coverage on shares of Snowflake in a report on Tuesday. They issued an “overweight” rating and a $275.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Stock Down 2.1%

SNOW opened at $235.42 on Friday. Snowflake Inc. has a 12 month low of $111.15 and a 12 month high of $249.99. The company has a market cap of $79.76 billion, a PE ratio of -56.73 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $215.94 and a 200 day moving average of $195.89.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. The trade was a 1.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 710,083 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,601,630 shares of company stock worth $362,990,571 in the last 90 days. 6.80% of the stock is owned by company insiders.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.